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Demand Based Pricing: Described methods belong to the category of demand / market based pricing:-
1. What the Traffic can Bear' Pricing
2. Skimming Pricing
3. Penetration Pricing
The price elasticity of demand is taken into account in all of the demand based pricing methods, indirectly or directly. Price elasticity of demand refers to the relative sensitivity of demand for a product to changes in its value in other words how significantly the sales of the product are affected when price is changed. If decrease or increase in the price of the product results in significant increase or decrease the product is said to be price elastic conversely, if price change does not considerably affect the sales volume, a product is called to be price inelastic.
Objectives of measuring advertising: some advertisers do not bother to measure advertising effectiveness. They expect that the sales will ultimately increases by the reason of adv
Marketing Orientation If an organization has a marketing orientation, its planning rests in its marketing effort. Marketing becomes the business's philosophy, not just a functi
What do you mean by Business to Business in e-commerce? B2B stands for Business to Business , it is the type of e-commerce. This is a mode of conducting business among two
importance of product differentiation
Define one disadvantage of online buyers when dealing with unfamiliar sellers. One disadvantage of online buyers: Lack of trust is there observably as buyer cannot phy
Determine about the Industrial Goods Goods meant for consumption or use as inputs in production of other products or provision of some services are called as 'industrial go
Competition Oriented pricing : competitive oriented pricing methods are regular in a competitive economy. The methods in this category rest on the principle of competitive par
#ques1. “Consumer mind is a Black Box” –Discusstion..
Define marketing in words of Philip Kotler. In the opinion of Philip Kotler, he explains that “Marketing is a social and managerial process by that individuals and groups acqui
Approaches to environmental scanning: 1. Systematic approach: in this approach, formats for various issues are developed and is done systematically in a step by step fa
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